Lloyd’s of London, the global insurance market, recently pledged to fund opportunities for black and minority ethnic groups, after issuing a formal apology for its “shameful role in the 18th and 19th Century Atlantic slave trade.” Better late than never was a common and not unreasonable reaction. My first thought however, was to wonder if this would draw more attention to the East India Company.

The “inside-out” modernism of the Lloyds’ building in the heart of the city of London occupies the same site as the 200-foot long classical monolith that was the headquarters of the East India…